Mr. Lloyd George on Public Works Mr. Lloyd George's article
on another page effectually disposes of the principal arguments against an energetic policy of public works in time of depression. The question is not, as he shows, whether public works are justifiable in any circumstances. They are, and must be, under- taken all the time. The question is how fast they should go, and at what time. There is no suggestion that money should be spent on schemes not highly desirable in them- selves, and worth having even in terms of cash values ; and who would venture to say that private industrialists unaided would or could undertake all the tasks that need to be carried out ? A new Charing Cross Bridge, for. example ? The point is that now is the time for national re-conditioning, when money is lying idle and is cheap, and when surplus labour is available and being paid for doing nothing. Also it must be on a large scale, if it is to produce those decisive results which would stimulate industry as a whole. And it must be financed, by loans, for there will be assets to set against the capital, and to pay fcir the whole work out of taxation would impose an untimely, unnecessary and disastrous burden on the. tax-payer.
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